True North Advisors LLC Grows Stake in Prologis, Inc. (NYSE:PLD)

True North Advisors LLC lifted its stake in shares of Prologis, Inc. (NYSE:PLD) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,345 shares of the real estate investment trust’s stock after purchasing an additional 122 shares during the period. True North Advisors LLC’s holdings in Prologis were worth $248,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PLD. Sunbelt Securities Inc. increased its stake in shares of Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 224 shares in the last quarter. Dunhill Financial LLC boosted its holdings in Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 182 shares during the period. Hara Capital LLC purchased a new position in Prologis in the 3rd quarter valued at approximately $48,000. Coastline Trust Co purchased a new position in Prologis in the 3rd quarter valued at approximately $52,000. Finally, Fortitude Family Office LLC raised its holdings in Prologis by 120.6% during the 3rd quarter. Fortitude Family Office LLC now owns 439 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 240 shares during the period. Institutional investors own 93.50% of the company’s stock.

Prologis Trading Up 2.8 %

PLD stock opened at $118.38 on Friday. The company has a market capitalization of $109.64 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 3.25 and a beta of 1.09. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.43. Prologis, Inc. has a one year low of $100.82 and a one year high of $135.76. The company’s 50 day moving average price is $110.31 and its two-hundred day moving average price is $118.33.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is presently 96.00%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Truist Financial reduced their price target on Prologis from $132.00 to $121.00 and set a “buy” rating for the company in a research report on Friday, January 17th. The Goldman Sachs Group reiterated a “neutral” rating and set a $132.00 price target (down from $142.00) on shares of Prologis in a research report on Monday, October 21st. JPMorgan Chase & Co. cut their price objective on shares of Prologis from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Baird R W raised shares of Prologis from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Mizuho cut their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.67.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.